10 August 2019 - 15:46
  • News Code: 291924
Iran Self-Sufficient in MEK Production

TEHRAN (Shana) -- Iran’s Shimibaft Petrochemical Plant has made the country self-sufficient in production of butanone, also known as methyl ethyl ketone (MEK).

Speaking on Saturday, the CEO of the company told reporters that the plant had bolstered its presence on international markets, adding that the country was in no need to import MEK anymore thanks to his company’s productivity.

MEK is an organic compound with the formula CH3C(O)CH2CH3. This colorless liquid ketone has a sharp, sweet odor reminiscent of butterscotch and acetone. It is produced industrially on a large scale, and also occurs in trace amounts in nature. It is soluble in water and is commonly used as an industrial solvent.

Shams said two countries had been added to the company’s traditional customers.

He said the company’s output had grown by 7% in the first quarter of the current calendar year, which began on March 21, compared to the same period last year.

“Last year, the total production of the company grew by 113% year-on-year,” the official said.

The company also generated 18 million dollars by exporting its products last calendar year, Shams added.

Currently, the company sells 37% of its MEK output on the domestic market.

According to Shams, in the first quarter of the current year, the company has exported 10,000 tons of items valued at $6 million.

The net profits of the company rose by 283% in the previous calendar year compared to the preceding year, he said. Furthermore, the company’s profits in Q1 rose by 234% year-on-year.

News Code 291924

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